Quotes of BRENT continue to move as part of the correction. At the time of the publication of the forecast, the price of BRENT oil is 80.02 dollars per barrel. At the moment, we should expect an attempt to test the resistance level near the area of 81.05 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 75.50.
BRENT forecast & technical analysis October 23, 2018
BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below 77.50. Cancellation of the fall in oil prices will be a strong increase and a breakdown of the level of 81.05 dollars per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 84.50.
BRENT forecast & technical analysis October 23, 2018 imply an attempt to test the resistance level near 81.05 and continue to fall below 75.50, cancellation of the BRENT oil price fall option will be strong growth and a breakdown of 81.05 that will indicate continued growth of quotations in the area above the level of 84.50.